Instructions

ZOOM IN by clicking on the page. A slider will appear, allowing you to adjust your zoom level. Return to the original size by clicking on the page again.

MOVE the page around when zoomed in by dragging it.

ADJUST the zoom using the slider on the top right.

ZOOM OUT by clicking on the zoomed-in page.

SEARCH by entering text in the search field and click on "In This Issue" or "All Issues" to search the current issue or the archive of back issues
respectively.

PRINT by clicking on thumbnails to select pages, and then press the
print button.

SHARE this publication and page.

ROTATE PAGE allows you to turn pages 90 degrees clockwise or counterclockwise.Click on the page to return to the original orientation. To zoom in on a rotated page, return the page to its original orientation, zoom in, and
then rotate it again.

CONTENTS displays a table of sections with thumbnails and descriptions.

ALL PAGES displays thumbnails of every page in the issue. Click on
a page to jump.

SFLTIMES.COM | SOUTH FLORIDA TIMES | DECEMBER 17 — DECEMBER 23, 2015 | 7A Business FUNdraising Good Times A time to look back PHOTO COURTESY OF CHINA STRINGER NETWORK/REUTERS INFORMANT: Guo Guangchang, the billionaire chairman of the Fosun Group, one of China’s biggest private conglomerates, in 2014. Prominent tycoon entangled in Chinese investigation By JOE McDONALD AP Business Writer BEIJING — One of China's top entre- preneurs, the chairman of the Fosun conglomerate that owns Club Med and other businesses in Europe and the U.S., is assisting Chinese authorities with an investigation, his company said, a possible sign that an anti-corruption campaign is widening beyond state companies. Fosun International released a state- ment through Hong Kong's stock exchange on Friday evening after Chinese business magazine Caixin reported company employees were unable to contact chairman Guo Guangchang. The statement said the company understands Guo is “currently assisting in certain investigations carried out by mainland judiciary authorities.” China is in the midst of a three-year-old anti-graft crackdown led by President Xi Jinping that has snared dozens of executives at state-owned companies in oil and other industries. A court cited Guo in August as being linked to a supermarket chain chairman who was jailed for corruption. A series of figures in China's securities industry have disappeared or been detained since August after authorities launched an investigation following a plunge in Chinese share prices in June. Fosun, China's biggest privately owned conglomerate, and its pharmaceutical unit had suspended trading of their shares Friday in Hong Kong. Phone calls to Fosun's media and in- vestor relations departments weren't answered. extending scrutiny beyond state-owned enterprises, Guo's situation suggests authorities are increasing uncertainty for investors, said Ronald Wan, CEO of investment banking at Partners Capital International in Hong Kong. “A lot of companies will be on the in- vestigation list and it will alert all the investors,” he said. Wan said the government should clarify Guo's status. Fosun's statement said Guo “may con- tinue to take part in decision makings of the Company's major matters via appropriate means.” Guo, 48, is one of China's biggest inves- tors abroad. Fosun, which he co-founded in the 1990s, has businesses in real estate, steel, mining and retailing. The Financial Times dubbed him “Chi- na's Warren Buffett” for following the legendary American investor's approach of using the cash flow from insurance operations to buy other businesses. Fosun won a bidding war this year to take over Club Mediterranee, the French resort operator. Last year, it paid 1 billion euros ($1.1 billion) for Portugal's biggest insurance company, Caixa Seguros. In the United States, it owns Meadowbrook Insurance Group Inc., 20 percent of insurer Ironshore Inc. and the 60-story office tower at 1 Chase Manhattan Plaza in New York City. Guo has a net worth of $7.8 billion, ac- cording to the Hurun Report, which follows China's wealthy. He denied earlier he was the target of a graft investigation. A court in Shanghai said in August he had “inappropriate connections” with the chairman of a state-owned supermarket chain, Wang Zongnan, who was sentenced to 18 years, according to Caixin. The court ruled he misused 195 million yuan ($31 million) of Shanghai Lianhua Supermarket Holdings Co.'s money to help two other companies invest in real estate. The court said Wang misused his posi- tion “to seek benefits for Fosun Group,” according to Caixin. In exchange, the court said, Guo sold two villas to Wang's parents at low prices. Fosun denied any impropriety and said the villas were sold at market prices. In China's state-dominated economy, many entrepreneurs make deals with officials or state industry managers to gain government licenses, contracts or financing, said Zhang Tianyu, a specialist in corporate governance at the Chinese University of Hong Kong. “This is how some entrepreneurs get into trouble once they have an anti-corruption campaign,” said Zhang. Zhang said that in a series of deals in Shanghai, Fosun has bought stakes of less than 50 percent in state-owned companies but gained management control. He said that unusually favorable arrangement reduced the amount of capital Fosun had to tie up in the company while making it a partner of state managers. “What we guess is that someone should be helping him to make these transactions,” said Zhang. “Without more evidence, we don't know who this is. A politician, or maybe a group of people.” On Monday, China's biggest broker- age, state-owned Citic Securities Co., said it could not contact the two managers in charge of its China and international investment banking business. In September, the police ministry announced Citic's general manager, Cheng Boming, and other executives were suspected of insider trading and leaking sensitive information. Last month, Citic and two other broker- ages, Guosen Securities Ltd. and Haitong Securities Ltd., said separately they were under investigation. A star Chinese fund manager, Xu Xiang, was detained Nov. 2 on suspicion of insider trading, according to the official Xinhua News Agency. Climate agreement could create jobs CLIMATE, FROM 1A countries meet their commitments to curb carbon emissions. The immediate reaction of leading Re- publican critics was a stark reminder of the conflict that lies ahead. Senate Majority Leader Mitch McCon- nell of Kentucky said Obama is “making promises he can't keep” and should remember that the agreement “is subject to being shredded in 13 months.” McConnell noted that the presidential election is next year and the agreement could be reversed if the GOP wins the White House. And Republican Sen. James Inhofe of Oklahoma said that Americans can expect the administration to cite the agreement as an excuse for establishing emission targets for every sector of the U.S. economy. Kerry said from Paris: “I have news for Senator Inhofe. The United States of America has already reduced its emissions more than any other country in the world.” “This has to happen,” he said of the agreement. “I believe this will continue because I just personally cannot believe that any person who doesn't understand the science and isn't prepared to do for the next generation what we did here today and follow through on it cannot and will not be elected president of the United States.” In an interview taped for CBS Face the Nation, Kerry called the climate pact “a breakaway agreement” that will change how countries make decisions and “spur massive investment.” He acknowledged that a Republican president could undo the agreement, but said there is already plenty of evidence that climate change is having a damaging and expensive impact with more intense storms, wildfires and melting glaciers. Several Democratic lawmakers applauded Obama's efforts. House Democratic leader Nancy Pelosi hailed it as a “monumental moment” and praised Obama for his leadership on the issue. Sen. Harry Reid, the Senate Democratic minority leader, said climate change poses one of the greatest threats the world has ever known, and that no country acting alone can stem the tide. “The time to act is now,” the Nevada lawmaker said. Obama took credit for the success- ful negotiations. “Today, the American people can be proud – because this historic agreement is a tribute to American leadership. Over the past seven years, we've transformed the United States into the global leader in fighting climate change.” BreakingNews!Visitusonlineat SFLTimes.com Were you exposed to a new idea that you brought back to your nonprofit and began to implement? Challenges. When you experienced PHOTO COURTESY OF WWW.USCNPM.ORG REFLECT: Take time to review 2015 By MEL AND PEARL SHAW As the year comes to an end there will be family celebrations, travels, and delicious meals. In between the many activities we hope you will also have time to reflect. We hope you can let your thoughts wander over the year that is ending, and extend into the year that is to come. Open your heart and mind to questions only you can answer. “Where did you find joy?” “What about disappointment?” “Were there dreams that came true?” “Dreams that were deferred?” These are personal reflections. They are also nonprofit reflections. Here are some additional touchstones to guide your reflections. Conversations. In the bustle of daily activity we sometimes overlook the impact of a conversation. Was there someone you talked with this year who “opened the door” for you? Did he or she introduce you to a new partner? Facilitate new opportunities for the children you serve? Perhaps there was a conversation that led to a new way to engage advocates and policy makers? What about the conferences and meetings you attended? challenges this year, how did you grow? If there were budget cuts, were you able to reorganize your staff or programs in a new way? Were you able to create new partnerships or to consider a merger? If you lost a key staff person or board member, were you able to look at your work culture and board configuration, and regroup in a positive way? Successes. Did you receive funding for a new program, and during the process of implementation uncover challenges you hadn’t anticipated? Did you find a better way to implement your program once you began the actual work? Were you embraced by new donors or sponsors? Bigger Questions. We hope you will find time to reflect on the bigger questions as well. These include “what could we do differently?” “Are we truly meeting our goals?” “Have we become used to doing things a certain way, assuming we are making an impact?” and “are we really making a difference?” Sometimes these get lost in the daily rush. We don’t have time to step back and think about “the big picture.” We hope you will have a few days off, with unstructured time to allow your creativity and intuition to guide your reflections and help you prepare for 2016. We will think of you – our readers – throughout the holiday season. We look forward to sharing 2016 with you, offering suggestions that may help guide your way. Mel and Pearl Shaw wish you a joyous holiday season. For more reflections and suggestions visit www.saadandshaw.com